Shopping at local businesses has a lot of benefits not only for shoppers but also for the local economy.
Martijn Van Luijn, Dauphin Economic Development Manager, describes an economic metaphor known as "The Leaky Bucket".
"Imagine yourself that the community is a water bucket, and the water that comes in, that's our economy. that's all the goods we produce and all that we sell. the more we can keep in the bucket, the better it is. When we talk 'leaky bucket' that's all the money that leaves the community"
The real question is how much stays in this bucket?
"Money that stays in the bucket can rotate as much as nine times. So if you think about a $20 bill being re-spent in the community, up to 9 times."
In addition, Van Luijn notes that money spent at local big box or chain stores still rotates in the community, but only 3 times instead of 9.
Another great example of how putting your money where your house is keeps it local and helps grow the local economy!
